The South Africa Department of Trade, Industry, and Competition is advocating for collaborative intra-Africa energy investments to address the continent's energy needs.

The World Bank estimates that Sub-Saharan Africa has about 600 million people without access to electricity, prompting concerns about the need for immediate interventions.

In a bid to increase cooperation among African countries, the South African Electrotechnical Council is hosting a “Continental Energy Investment Forum” under the theme “Collaborate, Renew and Transition” as part of the Energy Inward Buying and Investment Mission.

The SAEEC believes this initiative aligns with South Africa’s domestic and continental industrialization objectives, recognizing the important role of energy in overall economic development and the need for greater intra-African investments in this sector.

The mission, which hosted over 40 energy sector delegates from ten countries across Africa, aims to serve as a platform to demonstrate to regulators and owners of energy projects from the African continent South African energy capabilities and competencies. This will form meaningful procurement, financing, and trade partnerships to strengthen the African energy sector.

The Department also aims for South African producers to identify energy projects in various countries that will benefit from South African energy-efficient products, engineering services, and cutting-edge technology.

Delivering a keynote address at a business forum held at the Auditorium of the Development Bank of Southern Africa to usher in the Continental Energy Investment Forum, Deputy Director-General Export of the South Africa Department of Trade, Industry, and Competition, Lerato Mataboge, stated, “To realize the Africa we want, the continent will require secure and sustainable energy sources. This Mission is our contribution to opening the dialogue among the role players in energy on our continent.”

The Deputy Director also stressed that the energy and electrotechnical sectors play an indispensable role in all of our economies because of their direct and indirect contribution to high-value production and job-creation. She added that the South African electrotechnical sector has a local value of US$58 billion and employs around 280,000 people.

“As a Department of Trade, Industry and Competition, we have a direct interest in ensuring the sustainability and growth of this sector and in ensuring that we form collaborative relationships with partners in the rest of Africa for mutual growth of our respective sectors. We are excited therefore at the prospects of showcasing South African capabilities and competencies to our visiting delegates, project formulators and project owners who will have direct engagements with South African manufacturers and financiers,” Lerato Mataboge stated..

The Continental Energy Investment Forum is being supported by the Development Bank of South Africa, the Export Credit Insurance Corporation of South Africa and the Gauteng Growth and Development Agency.